SICOM rubber factors to watch for Thursday, September 6

Rubber bicycle tyres; taken September 2018.Rubber bicycle tyres; taken September 2018.
  • The SICOM front-month October contract settled up 0.3 cent at 132 U.S. cents.
  • TOCOM February delivery rubber futures rose 1.6 yen, or 0.9 percent, to 170.4 yen ($1.53) per kg.
  • The rubber market is awaiting word on US$200 billion in tariffs by the U.S. on Chinese imported goods as early as Thursday, with duties of 25 percent on a swathe of items that rely on rubber parts.
  • A supply crunch in India after heavy rains in the main producing state of Kerala may push imports of natural rubber this year to a new high despite a steep fall in rupee, the Economic Times reported.
  • The newspaper said production for April-July 2018 is down 14 percent from a year ago, though there is hope for recovery. “Loss of production in the first few months can be made up in the coming months. We may come near last year’s production,” George Valy, former president of Indian Rubber Dealers Federation told the newspaper.

 

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